Global Infrared Search & Track (IRST) System Market is accounted for $5.62 billion in 2020 and is expected to reach $10.32 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Some of the key factors propelling the market growth include rise in the enhanced security and immunity over radars, increase in the research and development activities, increase in the need to upgrade situational awareness systems, and increase in the defense expenditures.
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On the basis of geography, Europe region is expected to have considerable growth during the forecast period, owing to increase in the need to upgrade situational awareness systems, the defense aircraft modernization programs, growing adoption of advanced systems by the military organization in Europe for performing intelligence, surveillance, and reconnaissance missions, and increase in the defense expenditures.
Some of the key players in Infrared Search & Track (IRST) System Market include Lockheed Martin Corporation, Aselsan A.S., Thales Group, Hughes Network Systems LLC., HGH Systmes Infrarouges SAS, Raytheon Company, Leonardo S.p.A, TTP plc., Safran S.A., Tonbo Imaging Private Limited, Northrop Grumman Corporation, and Rheinmetall AG.
Platforms Covered in Infrared Search & Track (IRST) System Market
• Airborne
• Land
• Space
• Maritime/Naval
Components Covered:
• Processing & Control Electronics
• Scanning Head
• Display Unit
Types Covered:
• Military Grade IRST
• Civil Grade IRST
Sales Channels Covered:
• Distributor
• Direct Sales
End Users Covered:
• Homeland Security
• Law Enforcement
• Aerospace and Defense
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